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dan, we're learning more about the white house plan to deal with the fiscal cliff. break it down for us. >> reporter: right. this is the plan that secretary -- treasury secretary timothy geithner took up to capitol hill yesterday. it calls for $1.6 trillion in tax increases over a ten-year period more than republicans had anticipated. in addition to that, $400 billion in spending cuts that will come later. much of that not really specified. we're looking at entitlements such as medicare. and then the plan also includes $50 billion in stimulus spending. democrats see this really as sort of the opening salvo in these negotiations. early on in this process, both sides appear to show some level of optimism that this would get done. in the last few days and certainly yesterday it just seems like both sides are so far apart, it's not unusual for us to see this kind of posturing and other negotiations, tough negotiations over the last four years or so. you'll see things build up whether it appears that it's going to get done. then they fall apart. in the end it does happen
dan, we're learning more about the white house plan to deal with the fiscal cliff. break it down for us. >> reporter: right. this is the plan that secretary -- treasury secretary timothy geithner took up to capitol hill yesterday. it calls for $1.6 trillion in tax increases over a ten-year period more than republicans had anticipated. in addition to that, $400 billion in spending cuts that will come later. much of that not really specified. we're looking at entitlements such as medicare....
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with the president's opening bid and budget talks to avoid the so-called fiscal cliff. utah congressman jason chafe fits joins me now. the president was campaigning today in campaign mode certainly and basically what the democrats and the white house are saying is this is what the american people voted for. all of the exit polls show that there is strong support, more than 60% of the voters, support tax increases for the wealthy. so how do you counter that? >> well, the president also said he was for a balanced approach and what we haven't seen is what is the other side of that balance? the president said he was going to help curb back the debt and tackle this deficit. instead, the president has the gull to actually go out and suggest that we should get rid of the debt ceiling votes and take away congress' ability to help put a lid on that. essentially wants a limitless credit card. that is a nonstarter for us in the house of representatives and the president should share with us what he thinks he should be cutting. not just 10, 20 years out in advance, what are we goin
with the president's opening bid and budget talks to avoid the so-called fiscal cliff. utah congressman jason chafe fits joins me now. the president was campaigning today in campaign mode certainly and basically what the democrats and the white house are saying is this is what the american people voted for. all of the exit polls show that there is strong support, more than 60% of the voters, support tax increases for the wealthy. so how do you counter that? >> well, the president also...
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proposal to avert the fiscal cliff. >> i don't know much about the government. is that a good sign if they make a proposal? >> when you do that to me, i know you're not taking me seriously, right? >> sometimes getting really stupid offers, also not polite. >>> plus, an update on the condition of the former president george h.w. bush. he had a health scare in houston yesterday. we're going to tell you how he's doing this morning. >>> but first let's get to the news live at 5:30 here at 30 rock in new york city. this morning, president obama departs to pennsylvania where he will continue his campaign sales pitch on how to solve the country's fiscal challenges. yesterday treasury secretary tim geithner met with republicans to unveil the white house's budget proposal which includes $1.6 trillion in new tax revenue over ten years as well as $50 billion in additional stimulus spending. with limited details on spending cuts, the gop's reaction, less than encouraging. senator mitch mcconnell reportedly burst into laughter while geithner was in the middle of outlining ob
proposal to avert the fiscal cliff. >> i don't know much about the government. is that a good sign if they make a proposal? >> when you do that to me, i know you're not taking me seriously, right? >> sometimes getting really stupid offers, also not polite. >>> plus, an update on the condition of the former president george h.w. bush. he had a health scare in houston yesterday. we're going to tell you how he's doing this morning. >>> but first let's get to the...
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legislative days before going off a cliff. >> the political theater over the fiscal cliff. >> mr. obama sends his chief negotiator. >> treasury secretary tim geithner. >> who was on capitol hill right now. >> reaching out to capitol hill. >> the push is on to get a deal. >> no substantive progress has been made in the talks. >> literally no progress. >> bad news, bad news, bad news. >> this is the moment of posturing. >> a lot of posturing. >> until we hear good news. >> the framework of the deal is beginning to emerge. >> i'll do whatever it takes to get this done. >> we have a debt crisis. >> i'll do anywhere and do whatever it takes. >> all eyes on the white house. >> they're going to get right up to cliff on new year's eve. we're all going to be hugging cliff. >> it's like when a fish show starts. the crowd -- >> i hope nobody catches that reference. >> all eyes on the white house. >> together again. >> what's his name? >> table for two. >> don't help me, don't help me. >> mr. romney goes to washington. >> mitt romney makes his way to the white house. >> the political power lu
legislative days before going off a cliff. >> the political theater over the fiscal cliff. >> mr. obama sends his chief negotiator. >> treasury secretary tim geithner. >> who was on capitol hill right now. >> reaching out to capitol hill. >> the push is on to get a deal. >> no substantive progress has been made in the talks. >> literally no progress. >> bad news, bad news, bad news. >> this is the moment of posturing. >> a lot of...
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fiscal cliff right now. for his part, the president travelled to pennsylvania today arguing congress should pass the middle class tax cuts right now set to expire on january 1st. but republicans say that's a no go. any deal needs to have tax cuts for everyone. i talked about a stand off earlier on a democratic senator that's been waying in behind the scenes. joining me now is senator max baucus, senator, a very busy week, not a lot of progress to show for it. as you well know now, republicans have soundly rejected the offer coming from the white house. even calling it absurd. this offer, do you view it as a serious offer? >> i do. i think we're in the initial stages. there are about 30 days left before the so-called cliff hits us. i think in about a week, we'll get down to serious negotiations. >> why a week? why not now? many would say we're way beyond opening bids. >> i agree, i think we should start talking now, the president and the speaker should do so, but for whatever reasons, it's a little slower. i
fiscal cliff right now. for his part, the president travelled to pennsylvania today arguing congress should pass the middle class tax cuts right now set to expire on january 1st. but republicans say that's a no go. any deal needs to have tax cuts for everyone. i talked about a stand off earlier on a democratic senator that's been waying in behind the scenes. joining me now is senator max baucus, senator, a very busy week, not a lot of progress to show for it. as you well know now, republicans...
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big news, the white house putting an offer out there on the table, a plan to avoid the fiscal cliff and break the stalemate. the treasury secretary tim geithner himself making the rounds on capitol hill, presenting the details. last night, in fact, even. in the suvs returning to the white house after his meetings with congressional leaders, the press is there. that's an important meeting, folks, the democrats are emphasizing. this, however, is only a first offer. >>> so, with that how was it received? it was received with a cacophony of laughter, essentially. the republicans hated it. there's really no other way to say it. they stopped at the request for $1.6 trillion in new tax revenue, which probably gives us a bit more context to house speaker john boehner's response to all of this yesterday. >> no substantive progress has been made in the talks between the white house and the house over the last two weeks. >> so, let's not forget here just how close we are to this cliff. cliff day is 32 days away. you might say we're kind of teetering, regardless of what the republicans think, regar
big news, the white house putting an offer out there on the table, a plan to avoid the fiscal cliff and break the stalemate. the treasury secretary tim geithner himself making the rounds on capitol hill, presenting the details. last night, in fact, even. in the suvs returning to the white house after his meetings with congressional leaders, the press is there. that's an important meeting, folks, the democrats are emphasizing. this, however, is only a first offer. >>> so, with that how...
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. >> tonight, richard wolffe on today's nonsense from republicans and where a deal on the fiscal cliff stands. and former health insurance executive wendell potter on what obama's proposed $340 billion in medicare cuts will mean for seniors. >>> vice president joe biden stumps for the middle class at a retail store that treats its workers right. i'll talk costco and fiscal cliff with steve greenhouse of "the new york times." >>> plus hostess executives tank their company and cost the people their jobs. so why are they still demanding millions of dollars in bonuses? >>> and we'll tell you how senator john mccain fits in with congressman louie gohmert's latest conspiracy theory. >> this administration sent planes and bombs and support to oust gadhafi so al qaeda and the muslim brotherhood could take over libya. >>> good to have you with us tonight, folks. republicans are walking tall in public but hanging their heads behind closed doors. john boehner struck a defiant tone during a news conference today. he blamed the president and democrats for stalling negotiations on a debt deal. >> de
. >> tonight, richard wolffe on today's nonsense from republicans and where a deal on the fiscal cliff stands. and former health insurance executive wendell potter on what obama's proposed $340 billion in medicare cuts will mean for seniors. >>> vice president joe biden stumps for the middle class at a retail store that treats its workers right. i'll talk costco and fiscal cliff with steve greenhouse of "the new york times." >>> plus hostess executives tank...
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on the fiscal cliff. we're iffing to bring it to you live as soon as he speaks. we'll take a quick break. what s with adding a friend... ♪ ♪ ...could end with adding a close friend. ♪ the lexus december to remember sales event is on, offering some of our best values of the year. this is the pursuit of perfection. offering some of our best values of the year. social security are just numbers thinkin a budget.d... well, we worked hard for those benefits. we earned them. and if washington tries to cram decisions about the future... of these programs into a last minute budget deal... we'll all pay the price. aarp is fighting to protect seniors with responsible... solutions that strengthen medicare and... social security for generations to come. we can do better than a last minute deal... that would hurt all of us. you won't just find us online, you'll also find us in person, with dedicated support teams at over 500 branches nationwide. so when you call or visit, you can ask for a name you know. because
on the fiscal cliff. we're iffing to bring it to you live as soon as he speaks. we'll take a quick break. what s with adding a friend... ♪ ♪ ...could end with adding a close friend. ♪ the lexus december to remember sales event is on, offering some of our best values of the year. this is the pursuit of perfection. offering some of our best values of the year. social security are just numbers thinkin a budget.d... well, we worked hard for those benefits. we earned them. and if washington...
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cliff. it included $1.6 trillion in new revenue from tax hikes on the rich. the white house is giving $400 billion in savings from medicare and entitlements. there's also a request for at least $50 billion in infrastructure spending, mortgage relief, and other stimulus measures. none of this is a surprise to the republicans. this is what president obama campaigned on. it's also what republicans have been presented behind closed doors for weeks. "politico" reported on the deal taking shape behind the scenes. it includes most of the same details the white house has in its proposal. according to "politico" house republican leaders recognize president obama holds the high cards and the public is likely to blame republicans if negotiations blow up and the new year begins with a fiscal disaster. the facts didn't stop speaker boehner from claiming the white house is holding up negotiations. >> majority leader and i just had a meeting with the treasury secretary. it was frank, and it was direct. i w
cliff. it included $1.6 trillion in new revenue from tax hikes on the rich. the white house is giving $400 billion in savings from medicare and entitlements. there's also a request for at least $50 billion in infrastructure spending, mortgage relief, and other stimulus measures. none of this is a surprise to the republicans. this is what president obama campaigned on. it's also what republicans have been presented behind closed doors for weeks. "politico" reported on the deal taking...
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has the white house made any specific plans on a face to face meeting on this fiscal cliff, leaders talking in the same room, anybody? >> reporter: no. not that i know of at least. and i checked just a short time ago. not that i know of. but i got to tell you, those things are not always productive. things seem to get done better at the staff level. the last time the president spoke to speaker boehner on wednesday night and said bottom line tax rates, you have to agree to let tax rates go up. ball is in the republicans' court to come back and offer a counterproposal. they're outraged because they want more spending cut s. so the white house is looking to see what they'll come back with, on spending cuts and on tax rates, and we're all waiting on that now. >> okay. we -- for lack of a countdown clock, what, 13 days now or something? >> reporter: we have until the end of the year so -- >> before they go on vacation, though, yeah. okay. thank you. >> reporter: they can stay in town. if they don't get it done, they have to stay. >> thank you very much. what's next for the fiscal cliff debate? r
has the white house made any specific plans on a face to face meeting on this fiscal cliff, leaders talking in the same room, anybody? >> reporter: no. not that i know of at least. and i checked just a short time ago. not that i know of. but i got to tell you, those things are not always productive. things seem to get done better at the staff level. the last time the president spoke to speaker boehner on wednesday night and said bottom line tax rates, you have to agree to let tax rates go...
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averts the fiscal cliff. millions of americans are not finding this partisan fighting so funny. [ male announcer ] it's that time of year again. time for citi price rewind. because your daughter really wants that pink castle thing. and you really don't want to pay more than you have to. only citi price rewind automatically searches for the lowest price. and if it finds one, you get refunded the difference. just use your citi card and register your purchase online. have a super sparkly day! ok. [ male announcer ] now all you need is a magic carriage. citi price rewind. buy now. save later. we create easy-to-use, powerful trading tools for all. look at these streaming charts! they're totally customizable and they let you visualize what might happen next. that's genius! we knew you needed a platform that could really help you elevate your trading. so we built it. chances of making this? it's a lot easier to find out if a trade is potentially profitable. just use our trade & probability calculator and there it is
averts the fiscal cliff. millions of americans are not finding this partisan fighting so funny. [ male announcer ] it's that time of year again. time for citi price rewind. because your daughter really wants that pink castle thing. and you really don't want to pay more than you have to. only citi price rewind automatically searches for the lowest price. and if it finds one, you get refunded the difference. just use your citi card and register your purchase online. have a super sparkly day! ok....
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if we talk about the fiscal cliff anymore you might throw yourself off a cliff. here goes the republican again. they decided we'll go with the transition again. >> without spending cuts and entitlement reforce it's impossible oh address the fiscal crisis. >> cenk: we're busting their ass up today. i'm going to show you what they said before the election and what they said after. you'll love that. >> here come the people, man strikes and more strikes. now, fast food workers in new york starting to strike. >> i've been working at mcdonald's for 10 months right now. >> i've been working at wendy's for a year and two months now. >> cenk: i'm going to show you how much they're getting screwed. you want to talk about surprising news? here comes big foot! >> i was a skeptic. i did not believe these things exited at pull. they live right under our noses and we were never able to get proof of this until now. >> cenk: is it real? there's some real evidence. we'll talk about it on the show. in the end, of course, the did you meanest republican in the country within the show
if we talk about the fiscal cliff anymore you might throw yourself off a cliff. here goes the republican again. they decided we'll go with the transition again. >> without spending cuts and entitlement reforce it's impossible oh address the fiscal crisis. >> cenk: we're busting their ass up today. i'm going to show you what they said before the election and what they said after. you'll love that. >> here come the people, man strikes and more strikes. now, fast food workers in...